Grindwell Norton Q4 FY26 profit up 28% with ₹19 dividend

What Grindwell Norton reported for Q4 FY26

Grindwell Norton Ltd reported a sharp improvement in profitability for the quarter ended March 31, 2026 (Q4 FY26). Net profit for the quarter was reported at ₹118.74 crore, up 28.31% versus the same period last year. On a sequential basis, the company’s net profit was also described as up 24.77% over the prior three-month period.

Alongside earnings, the company declared a dividend of ₹19.00 per share on May 8, 2026, which was shown as a dividend yield of 1.66% at the time of the update. The quarter and full-year results were approved by the Board of Directors at its meeting held on May 8, 2026.

Dividend details and key dates

For FY26, the board recommended a dividend of ₹19 per equity share (380%) of face value ₹5 each. The AGM was scheduled for July 24, 2026, and the dividend payment was indicated to be on or from July 28, 2026.

The earnings-related date also appeared in the data feed as “Upcoming Earnings date for Grindwell Norton Ltd. is 8th, May, 2026”, aligning with the board meeting date for results approval.

Q4 FY26 performance: income and profit snapshot

The company’s quarterly disclosures included both “Revenue from Operations” and “Total Income” figures for Q4 FY26.

Standalone Revenue from Operations for the quarter ended March 31, 2026 was ₹829.19 crore (₹82,918.82 lakh), compared with ₹691.23 crore (₹69,123.40 lakh) in the corresponding quarter of the previous year. Net profit for the quarter was reported at ₹119.09 crore (₹11,908.61 lakh) versus ₹91.33 crore (₹9,132.78 lakh).

Another set of figures for Q4 FY26 cited Revenue from Operations at ₹842.22 crore (₹84,221.63 lakh) versus ₹709.51 crore (₹70,951.23 lakh) in Q4 FY25, along with net profit of ₹119.34 crore (₹11,933.81 lakh) versus ₹92.84 crore (₹9,283.86 lakh). These values were presented as consolidated performance in the same data.

Table: Key Q4 FY26 figures provided

FY26 totals: profits and revenue trend

For the full year FY26, Grindwell Norton reported standalone net profit of ₹412.60 crore (₹41,259.84 lakh) and consolidated net profit of ₹416.79 crore (₹41,678.89 lakh). These were stated as up from ₹360.83 crore (₹36,083.06 lakh) and ₹371.27 crore (₹37,126.68 lakh) respectively.

On the income line, FY26 Revenue from Operations was reported at ₹3,073.19 crore (₹3,07,319.22 lakh), up 9.30% year-on-year from ₹2,811.59 crore (₹2,81,158.98 lakh). FY26 Total Income was reported at ₹3,168.11 crore (₹3,16,811.20 lakh), up 9.57% year-on-year from ₹2,891.47 crore (₹2,89,146.74 lakh).

Q1 (quarter ended Jun 2025) operational snapshot

Separately, quarterly tables in the data feed showed the quarter ended Jun 25 (Q1 FY26) with Total Revenue at ₹703.46 crore and Net Income at ₹94.45 crore, compared with ₹842.22 crore and ₹118.74 crore in Mar 26. The same table listed operating income at ₹103.98 crore in Jun 25 and ₹138.30 crore in Mar 26.

A Q1 FY26 earnings summary also stated revenue at about ₹703 crore (down 0.42% YoY from ₹706 crore), total expenses at ₹602 crore (up 1.18% YoY from ₹595 crore), consolidated net profit at ₹94 crore (up 1.08% YoY from ₹93 crore), and EPS at ₹8.53.

Table: Quarterly metrics shown for Jun 25 vs Mar 26

Segment commentary cited: C&P, Abrasives, Digital Services

The accompanying commentary described Grindwell Norton (GWN) delivering revenue growth of 18.7% year-on-year to about ₹842 crore (INR 8.4 billion) in Q4, with EBITDA margin expansion of 155 bps year-on-year to 19.5%.

Within segments, the Ceramics and Plastics (C&P) segment was described as the key growth driver, with revenue growth of 23.3% year-on-year and EBIT margin expansion of 246 bps to 19.7%, supported by traction across industrial end-markets. The Abrasives segment was described as growing 15.1% year-on-year, while margins were said to be flattish year-on-year due to Chinese dumping, slower exports, and competitive intensity. Digital Services was also described as recording topline growth, with EBIT margin expanding by 142 bps to 25.2%.

Stock and valuation references mentioned

The data feed included price snapshots around mid-June 2026, including “Updated: Fri 12 Jun, 2026 | 15:29:19” with NSE levels shown near ₹1,930.34 (1.84%) and ₹1,923.30 (1.59%). It also listed “Today: 1,907.45”.

The commentary also referenced the stock trading at a P/E of 38.7x and 33.8x on FY27 and FY28 estimated earnings, respectively. It noted an upgrade in rating from ‘Hold’ to ‘Accumulate’, along with a target price of ₹1,887 (revised from ₹1,731), and revisions to EPS estimates by +0.9% and +3.3% for FY27E and FY28E.

Regulatory note: labour codes

The information set also flagged that the Government of India notified four new labour codes effective November 21, 2025. Beyond that notification and date, no quantified impact was provided in the supplied details.

What to watch next

With FY26 results approved on May 8, 2026 and the AGM scheduled for July 24, 2026, the next concrete milestone in the provided information is the dividend payment expected on or from July 28, 2026. Investors tracking subsequent updates will likely focus on management commentary that was explicitly awaited in the notes, and on how quarterly income and margins evolve relative to Q4 FY26 levels already reported.